Raymond James & Associates Boosts Stock Position in Standex International Co. (NYSE:SXI)

Raymond James & Associates grew its stake in shares of Standex International Co. (NYSE:SXI) by 32.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 47,138 shares of the industrial products company’s stock after buying an additional 11,516 shares during the period. Raymond James & Associates owned 0.40% of Standex International worth $8,616,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SXI. GAMMA Investing LLC raised its stake in Standex International by 93.5% during the 3rd quarter. GAMMA Investing LLC now owns 149 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 72 shares during the period. Canada Pension Plan Investment Board bought a new stake in Standex International in the 2nd quarter worth approximately $32,000. Fifth Third Bancorp increased its stake in Standex International by 95.5% in the 2nd quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock worth $118,000 after acquiring an additional 358 shares during the last quarter. Inspire Advisors LLC bought a new stake in Standex International in the 3rd quarter worth approximately $208,000. Finally, Tidal Investments LLC bought a new stake in Standex International in the 1st quarter worth approximately $210,000. 90.35% of the stock is owned by hedge funds and other institutional investors.

Standex International Trading Up 1.4 %

Shares of NYSE:SXI opened at $181.95 on Wednesday. The business’s 50-day moving average is $176.16 and its 200 day moving average is $172.35. Standex International Co. has a 1 year low of $130.04 and a 1 year high of $191.18. The firm has a market capitalization of $2.17 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.37 and a quick ratio of 2.69.

Standex International (NYSE:SXI) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.05. The business had revenue of $170.50 million for the quarter, compared to analyst estimates of $178.94 million. Standex International had a return on equity of 13.60% and a net margin of 10.14%. The company’s revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 earnings per share. On average, research analysts predict that Standex International Co. will post 7.67 earnings per share for the current fiscal year.

Standex International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 8th will be given a dividend of $0.32 per share. This is a boost from Standex International’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 0.70%. The ex-dividend date is Friday, November 8th. Standex International’s dividend payout ratio (DPR) is currently 20.71%.

Wall Street Analysts Forecast Growth

SXI has been the topic of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Standex International in a research note on Friday, August 2nd. StockNews.com raised Standex International from a “hold” rating to a “buy” rating in a research note on Wednesday, August 14th. Finally, DA Davidson boosted their target price on Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a research report on Monday, August 5th.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.